The Securities Regulatory Commission issued an administrative penalty decision to investigate insider trading in the Gongmaojiang River, inform the parties concerned of the facts, reasons, grounds and rights enjoyed by the parties in accordance with the law, hold hearings according to the parties' applications, and listen to the statements and arguments of the parties concerned and their agents. The investigation and processing of this case has now been completed. On January 17, 2025, the relevant company issued an announcement regarding receipt of the proposed takeover report. The offer was a major event as stipulated in section 80 (2) (8) and (9) of the Securities Law. Prior to disclosure, it was insider information as stipulated in Section 52 (2) of the Securities Law. This insider information was formed no later than December 16, 2024, and made public on January 17, 2025. Gong Mao Jiang learned the inside information no later than January 15, 2025. On January 16 and January 17, 2025, Gong Maojiang controlled the use of multiple securities accounts to buy shares of related companies. After insider information was disclosed, all were sold, making a profit of 607,237.75 yuan. The Securities Regulatory Commission decided to confiscate 607,237.75 yuan of Gongmaojiang's illegal proceeds and fine of 1,821,713.25 yuan.

The Securities Regulatory Commission issued an administrative penalty decision to investigate insider trading in the Gongmaojiang River, inform the parties concerned of the facts, reasons, grounds and rights enjoyed by the parties in accordance with the law, hold hearings according to the parties' applications, and listen to the statements and arguments of the parties concerned and their agents. The investigation and processing of this case has now been completed. On January 17, 2025, the relevant company issued an announcement regarding receipt of the proposed takeover report. The offer was a major event as stipulated in section 80 (2) (8) and (9) of the Securities Law. Prior to disclosure, it was insider information as stipulated in section 52 (2) of the Securities Law. This insider information was formed no later than December 16, 2024, and made public on January 17, 2025. Gong Mao Jiang learned the inside information no later than January 15, 2025. On January 16 and January 17, 2025, Gong Maojiang controlled the use of multiple securities accounts to buy shares of related companies. After insider information was disclosed, all were sold, making a profit of 607,237.75 yuan. The Securities Regulatory Commission decided to confiscate 607,237.75 yuan of Gongmaojiang's illegal proceeds and fine of 1,821,713.25 yuan.